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Why Ciena Stock Got Slammed on Monday

TheMotleyFool

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Networking equipment and services company Ciena (NYSE: CIEN) had a bad case of the Mondays. The company's shares tumbled by almost 11% in price after it published an earnings report that missed on a crucial metric.

For Ciena's first quarter of fiscal 2022, the company posted revenue of just over $844 million, nearly 12% higher than the same period of the previous year. This was within the company's revised guidance; last month, it reduced its top-line forecast for the period to $840 million to $850 million. Previously, it was $870 million to $910 million.

Image source: Getty Images.

Source Fool.com

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